Listen to shrewd Second Chance CEO on Singapore property

Extracted from Edge Singapore:”Second Chance entered the business of investing in properties in 1999-2000. It has held its properties as long term investments and earned steady rental income which became an increasing part of the group’s revenue and profits over the years.

The group said it has reaped the benefits manifold over the past 14 years or so in the property investment business.

“Going forward, the board thinks that it is prudent to significantly reduce the group’s exposure to its investments in properties. Additionally, the opportunity to sell the properties en masse is a rare one and provides the group with an easier and more expedient means of disposing the properties as compared to selling each property individually,””

Since Second Chance is retreating from the property scene and its CEO is a shrewd property player, it shows that property will no longer be the high-flyer as of yesterday.